If you wish to import services or goods from EU States or countries then you should first have the eu countries list that follow the system of vat or value added tax vatnumbersearch.com. This should help you to stay in the same taxation system, go in for vat refunds and also benefit you if you plan to re-export something back into those EU countries.
If your trading business is based in the UK then it’s extremely important to know about fellow EU countries which follow vat simply because this will continue uniformity in taxation and simplify your paperwork whenever you import items from such countries. You will obviously need to pay customs duties, excise duties or import vat for your services or goods according to their classification as deemed by the UK revenue and customs department or hmrc vat department.
For those who have already paid vat in any of the eu countries that are mentioned in the list then you can go in for vat reclaim once you sell goods in the local market at prevailing vat rates. However, before you start selling your goods and charging vat on the very same you will need to become a vat registered trader. The hmrc vat department offers several vat online services and you could simply download the right vat form to finish the vat registration process, although you will need to submit documentary proof too. As soon as you get your unique vat no you may issue a vat invoice against each sale and charge the corresponding vat rate to your clients in the local market.
The hmrc website features the eu countries list that follows the system of vat. These countries are Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, and Sweden. However, there are some specific territories within some countries that do not follow vat. Each EU country is assigned a specific code and follows a specific vat number format. Vat invoices are also prepared in each country in its own language. For instance, Poland issues a faktura vat, that is their version of a vat invoice.
If you wish to reclaim vat paid in another country then the simplest way forward would be to hire a vat agent that is an expert in uk vat in addition to eu vat rules. This will enable you to file your vat returns correctly and within the stipulated time period whilst doing the same when claiming vat refunds in the country of origin. It is also important to study various classifications in customs, excise and vat duties as well as learn more about vat exempt items so your product cost is reduced in a legal manner. While duty rates might be different within these eu countries, the fact that each of them follow vat will certainly reduce paperwork and assist you with your cost calculations.
Most eu countries follow vat and this also factor ought to be noted if you plan to import goods or services to the UK or in some other vat friendly EU country. The eu countries list mentioned above should allow you to identify countries that follow vat and permit you to definitely import products while avoiding the issue of double taxation by permitting you to definitely reclaim vat back.